Question : Assertion (A): Dissolution of Partnership may or may not result into closing down of the business.
Reason (R): Dissolution of Partnership firm means close down of business and comes to an end.

Option 1: Both Assertion (A) and Reason (R) are true and (A) is correct explanation of Reason (R).

Option 2: Both Assertion (A) and Reason (R) are true but (A) is not correct explanation of Reason (R).

Option 3: Assertion (A) is true but Reason (R) is false.

Option 4: Reason (R) is true but Assertion (A) is false.

Question : Assertion (A): Dissolution of the firm means the dissolution of the partnership between all the partners of the firm.

Reason (R): Dissolution of the firm means the closure of business and therefore means dissolution of partnership also.

Option 1: Assertion (A) and Reason (R) are correct but the Reason (R) is not the correct explanation of Assertion (A)

Option 2: Both, Assertion (A) and Reason (R) are correct and Reason (R) is the correct explanation of Assertion (A).

Option 3: Only Assertion (A) is correct.

Option 4: Both Assertion (A) and Reason (R) are not correct

Question :

Assertion (A): Dissolution of partnership is different from the dissolution of the Partnership firm.
Reason (R): Dissolution of partnership doesn’t dissolve the firm but the firm is dissolved in the partnership firm.

Option 1: Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct eplanation of Assertion (A).

Option 2: Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).

Option 3: Assertion (A) is true, but Reason (R) is false.

Option 4: Assertion (A) is false, but Reason (R) is true

Question : Assertion (A): A new business is likely to have lesser goodwill.
Reason (R): Goodwill is an intangible asset.

Option 1: Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A)

Option 2: Both Assertion (A) and Reason (R) are true but Reason (R) is not the correct explanation of Assertion (A)

Option 3: Assertion (A) is true but Reason (R) is false

Option 4: Assertion (A) is false but Reason (R) is true

Question : Assertion (A): A partnership firm does not exist as a separate legal entity apart from the partners who comprise it.

Reason (R): The Central Government has established a limit of 100 partners in a firm.

Option 1: Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A)

Option 2: Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A)

Option 3: Assertion (A) is true but Reason (R) is False

Option 4: Both Assertion (A) and Reason (R) are not correct